Timely Student Loan Payments Are Likelier When Affordable, Says American Financial Benefits Center

EMERYVILLE, Calif., May 1, 2018 (Newswire.com) - One personal finance rule that some experts promote is paying bills immediately. But this isn’t always possible when there just isn’t cash in the coffer with which to pay the bills. The same goes for monthly student loan payments. But borrowers with affordable monthly payments may be more likely to pay early or on time. American Financial Benefits Center (AFBC), which helps borrowers apply for and recertify enrollment in income-driven repayment plans, reminds borrowers that an affordable monthly payment makes being timely much easier.

“It’s easy to dole out advice about keeping up with your bills if you’re under the assumption that people have enough to make their payments,” said Sara Molina, manager at AFBC. “But in the right repayment plan, federal loan borrowers can actually only be responsible for making payments that are based on their personal financial situation.”

Helping people find, apply for or stay enrolled in an affordable repayment plan is the core of what we do. That affordable monthly payment can hopefully be a springboard for other good financial habits.

Sara Molina, Manager at AFBC

The plans Molina was referring to are income-driven repayment plans, which are offered to federal student loan borrowers and base monthly payments on income and family size. AFBC has helped thousands of borrowers successfully apply for these plans. Because of the way the monthly amounts are calculated, these are often the more affordable option. Certain borrowers may even have payments as low as zero dollars per month.

Student loan borrowers who have an affordable payment may want to set up auto-pay with their servicer or servicers to guarantee their payment will be made the same time every month. Borrowers who don’t wish to go that route still can make manual payments immediately when they’re due.

“Helping people find, apply for or stay enrolled in an affordable repayment plan is the core of what we do,” said Molina. “That affordable monthly payment can hopefully be a springboard for other good financial habits.”

About American Financial Benefits Center

American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

Contact

To learn more about American Financial Benefits Center, please contact:

American Financial Benefits Center
1900 Powell Street #600
​Emeryville, CA 94608
1-800-488-1490
​[email protected]

Source: American Financial Benefits Center